Converge Technology Solutions Corp. (TSE:CTS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Converge Technology Solutions Corp. (TSE:CTS) have earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is C$6.63.

A number of research firms have recently commented on CTS. Ventum Cap Mkts upgraded Converge Technology Solutions to a “strong-buy” rating in a research note on Tuesday, June 25th. National Bankshares upped their price objective on shares of Converge Technology Solutions from C$6.00 to C$7.00 in a report on Friday, May 10th. Finally, Cormark lowered their price target on shares of Converge Technology Solutions from C$7.00 to C$6.50 in a research report on Friday, May 10th.

Insider Buying and Selling

In other news, Senior Officer Avjit Kamboj sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$4.62, for a total transaction of C$115,500.00. In related news, Senior Officer Greg Berard purchased 8,197 shares of Converge Technology Solutions stock in a transaction that occurred on Tuesday, June 4th. The shares were acquired at an average cost of C$4.68 per share, for a total transaction of C$38,361.96. Also, Senior Officer Avjit Kamboj sold 25,000 shares of Converge Technology Solutions stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of C$4.62, for a total value of C$115,500.00. 5.45% of the stock is owned by company insiders.

Converge Technology Solutions Price Performance

Shares of TSE:CTS opened at C$4.24 on Tuesday. Converge Technology Solutions has a twelve month low of C$2.24 and a twelve month high of C$6.06. The stock’s 50 day moving average is C$4.56 and its 200-day moving average is C$4.90. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 58.49. The firm has a market capitalization of C$847.45 million, a price-to-earnings ratio of -424.00, a PEG ratio of 0.14 and a beta of 1.93.

Converge Technology Solutions (TSE:CTS) last issued its quarterly earnings data on Thursday, May 9th. The company reported C$0.11 EPS for the quarter, hitting analysts’ consensus estimates of C$0.11. Converge Technology Solutions had a negative return on equity of 1.08% and a negative net margin of 0.05%. The firm had revenue of C$628.77 million during the quarter, compared to analyst estimates of C$661.10 million. Sell-side analysts forecast that Converge Technology Solutions will post 0.5411111 EPS for the current fiscal year.

Converge Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a dividend of $0.015 per share. This is a positive change from Converge Technology Solutions’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.06 annualized dividend and a yield of 1.42%. Converge Technology Solutions’s dividend payout ratio (DPR) is currently -600.00%.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.